VyStar Credit Union approached the ownership about its interest in the building at 76 S. Laura St. earlier this year and a purchase and sale agreement was signed within three weeks of the initial meeting between the buyer and seller.
A Transwestern official tells Globest.com that the bidding for the property was intense with more than 300 confidentiality agreements from both domestic and international investors.
While the scarcity of land in cities will remain a challenge for homebuilders, the pandemic will most likely reshape the US residential market and could help solve America’s housing crisis.
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